Hi, I am a phd student looking to get a 100% mortgage on my stipend. I have spoken to a couple of banks and they won't accept my stipend as a salary as I do not pay tax. Someone I spoke to mentioned getting my parent to act as a guarantor on my behlf. The problem with that option is that my parents do not live in the UK. Is anyone else in the same position as me. Any advice would be very much appreciated.
Thanks

I think its always going to be hard to find a mortgage on a stipend because a) its so low and b) its usually fixed term (3 years).

Out of curiosity, I am not sure what kind of mortgage amount you could get with the standard 12k stipend.

Crossed my mind that. 4.5 x £12.3k is a big dog kennel these days.

Hi!
Me and my husband just bought a home together.
We kinda blagged it because I used pay slips as proof as my wages although it is an EPSRC stipend.
I think though that my husbands wages kinda counted more because he earned more than me. When we calculated how much we could borrow they used four times his wages and one of mine.
Hope this helps! Good luck!

Hmmm, not sure what amount you're looking to borrow, and to be honest I don't think you'd be able to afford your stipend alone these days. In terms of whether banks/building societies accept stipends as income, this can be tricky but is possible. My husband and I bought our home a couple of years ago, he was the major earner, I had the stipend. Halifax considered my stipend as income, they requested a letter from the stating what it was for, etc. I believe HSBC will allow stipends to contribute to a mortagage application too.

I also know a friend bought a house on her own - several years ago before the house prices in the UK rose to stupid levels. Her stipend was her main source of income, and she got a mortgage with it. Not sure which lender she was with though.

Hi guys, thanks for the responses. I get the standard bursary from BBSRC and also a stipend from an industrial company. Omega monkey how DID you get a payslip for your stipend?

When I first started at I got a cheque for three months work. However in Sept 2006 I started getting paid monthly from the university. I think EPSRC must pay the university for all the students and then the university split the money up.
So sorry can't help much there
I also had a letter from the graduate office saying how much I got as proof of my earnings, but got them to be quite vague, so to make teh situation better. But as I said, we could of probably still got teh mortgage without my wage just with the hubby's.

Sorry can't be more help